IoD Inducts New Members

The Institute of Directors, IoD, Nigeria, on Wednesday inducted new members into the Council.

The 142 inductees comprises of 116 new members and 24 Associate members while two associate members were upgraded to members’ status.

While speaking at the event tagged, New Members’ Evening, Eniola Fadayomi, President and Chairman of the Institute urged the inductees to do all they can to support the development of the IoD and position it favourably in the league of international professional bodies.

She emphasised that the vision of IoD Nigeria is to institutionalise the tenets of sound corporate governance and best practices in the country’s business environment.

In a presentation during the programme held at the Eko Hotels and Suites, Victoria Island, Lagos, Oluremi Omotosho, chairman, Standard Chartered Bank Nigeria Limited, identified corruption as the factor that creates the greatest disincentive for investment in Nigeria.

Omotosho noted that corruption, which is not limited to political spheres or public sectors, surpasses poor infrastructure, poor water and power supply and other factors when it comes to hindrances of businesses.

He observed that there are high expectations that the incoming administration of Muhammadu Buhari, president-elect would display zero tolerance to corruption. He then called on business leaders in Nigeria to brace themselves up for the imminent changes in policies that might be introduced to curb the scourge.

“It is my view that the in-coming administration of General Muhammadu Buhari would focus largely on the public sector and the political class. But that will be just one side of the problem. What will make the war successful is for the private sector leaders to embark on self-control, self-cleansing, and self-regulation,” he said.

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